Field of the Invention
Embodiments of the invention relate generally to information handling systems. More specifically, embodiments of the invention provide a system and method for analyzing return on investment (ROI) for social commerce interactions.
Description of the Related Art
As the value and use of information continues to increase, individuals and businesses seek additional ways to process and store information. One option available to users is information handling systems. An information handling system generally processes, compiles, stores, and/or communicates information or data for business, personal, or other purposes thereby allowing users to take advantage of the value of the information. Because technology and information handling needs and requirements vary between different users or applications, information handling systems may also vary regarding what information is handled, how the information is handled, how much information is processed, stored, or communicated, and how quickly and efficiently the information may be processed, stored, or communicated. The variations in information handling systems allow for information handling systems to be general or configured for a specific user or specific use such as financial transaction processing, airline reservations, enterprise data storage, or global communications. In addition, information handling systems may include a variety of hardware and software components that may be configured to process, store, and communicate information and may include one or more computer systems, data storage systems, and networking systems.
In recent years, information handling systems have also been instrumental in the widespread adoption of social media into the mainstream of everyday life. Social media commonly refers to the use of web-based technologies for the creation and exchange of user-generated content for social interaction. As such, it currently accounts for approximately 22% of all time spent on the Internet. More recently, various aspects of social media have become an increasingly popular means for enabling customer feedback, and by extension, it has likewise evolved into a viable sales and marketing channel for vendors. This new channel, sometimes referred to as “social commerce,” has proven to not only have a higher customer retention rate than traditional channels, but to also provide higher demand generation “lift.”
Other aspects of social commerce include campaign management and sales lead nurturing, which allows organizations and marketers to target populations of social media users that exhibit the same, or similar, set of characteristics. Interactions with individuals within these segments are then specified to increase the likelihood of a positive outcome, such as making a purchase. Such interactions may be a single point of contact or a series of contacts across one or more mediums over a period of time. While social commerce marketing campaigns and sales lead nurturing efforts are generally acknowledged as being strategically crucial, their return on investment (ROI) is equally recognized as being difficult to quantify.